Ables Iannone Moore & Associates Inc. Invests $2.30 Million in Johnson & Johnson (NYSE:JNJ)

Ables Iannone Moore & Associates Inc. acquired a new position in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,674 shares of the company’s stock, valued at approximately $2,300,000. Johnson & Johnson makes up 1.8% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 16th biggest holding.

Several other large investors also recently bought and sold shares of JNJ. Leo Wealth LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $122,521,000. Golden Road Advisors LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $238,000. Sivia Capital Partners LLC acquired a new position in Johnson & Johnson during the fourth quarter worth about $592,000. PVG Asset Management Corp grew its holdings in Johnson & Johnson by 28.8% during the fourth quarter. PVG Asset Management Corp now owns 3,899 shares of the company’s stock worth $611,000 after acquiring an additional 872 shares during the period. Finally, Cove Private Wealth LLC acquired a new position in Johnson & Johnson during the fourth quarter worth about $1,390,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ traded up $0.41 during midday trading on Monday, hitting $145.95. The company’s stock had a trading volume of 6,567,102 shares, compared to its average volume of 7,369,335. The company’s fifty day simple moving average is $148.38 and its two-hundred day simple moving average is $154.71. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock has a market capitalization of $351.25 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the company earned $2.68 earnings per share. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

Several research firms have weighed in on JNJ. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley lowered their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, May 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Monday. Finally, StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Hold” and an average price target of $174.07.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.